Loeffler: Washington Needs To Get Out of Main Street’s Way
Introduces Legislation to Improve PPP Flexibility, Cut Red Tape, Limit Expanded Unemployment Insurance
WASHINGTON, DC – U.S. Senator Kelly Loeffler (R-Ga.) continued introducing legislative proposals as part of her USA Restoring & Igniting the Strength of our Economy (USA RISE) Plan, a framework to reinvest in America, grow jobs and help families amid the coronavirus. Loeffler introduced three bills this week as part of the “Hiring in the USA” pillar of the plan.
The Paycheck Protection Program Timeframe, Modification, and Extension (PPP TIME) Act allows small businesses to use their eight-week Paycheck Protection Program (PPP) loan over 24 weeks and reduces the amount of the loan that must be spent on payroll to be forgivable to 50%. The bill text can be found here.
The Helping Americans Return to Work Act caps unemployment benefits at 100% of an employee’s previous earnings. The current $600 bonus unemployment insurance benefit passed by Congress has made it difficult for employers to hire workers, who often are making more on unemployment than they would if they went back to work. The legislation seeks to encourage Americans to get back to work and limit government dependency. The bill text can be found here.
The Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act would codify the Trump executive order that requires for every new federal regulation, two regulations will be eliminated. The bill text can be found here.
“It is difficult to comprehend the staggering toll the coronavirus has taken on our economy. Forty million Americans have filed for unemployment since the start of the coronavirus pandemic, including one in three Georgians,” Loeffler said. “We need Washington to get out of main street’s way so small businesses and job creators can help Americans get back to work.
“The legislation I have introduced is a direct response to the challenges I have heard from small businesses and employees across the Peach State. These bills will improve flexibility in the Paycheck Protection Program, cut regulatory red tape and ensure small business owners are able to hire the workers they need. I am committed to doing all we can to revitalize our small businesses to help them survive these difficult times, keep employees on payroll and create jobs.”
Loeffler has previously introduced legislation as part of the “Families in the USA” pillar of her USA RISE plan. This includes: the Working Families Childcare Access (WFCA) Act to give additional flexibility to working families by allowing parents to contribute more to their employer-sponsored Dependent Care Cafeteria Plan Flexible Spending Account (FSA); the Limiting Infant Fatality and Empowering Nonprofit Organization Workforces (LIFE NOW) Act to allow larger nonprofits to receive Paycheck Protection Program (PPP) loans and prohibit taxpayer dollars from funding abortion providers; the Affordable Health Care Options Act to codify the Trump Administration’s regulations on short-term, limited-duration health insurance plans to help Georgians who have lost their jobs and health insurance; and a resolution, supported by U.S. Senator Joni Ernst (R-Iowa), calling for an increase in funding for the Child Care and Development Block Grant (CCDBG).
Loeffler, who was named to the President’s Opening Up America Again Congressional Group, spent nearly three decades in the private sector helping build and grow small and large businesses and helping to create thousands of jobs. She most recently was the CEO of a financial technology firm.